On CNBC's "Options Action," Mike Khouw said Moderna Inc (NASDAQ: MRNA) looks to him a bit extended so he suggested an options strategy to make a bearish bet on the name.
Biotech stocks were down for a second week in a row, as they retreated along with the broader market amid macro concerns. Consumer price inflation data released during the week stoked rate hike fears, and exerted negative pressure on stocks.
There were very few stock-specific catalysts, barring a few preannouncements, stock offerings, and a slew of initial public offerings.
Benzinga's PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly informative hour, traders and investors tune in to get the major news of the day, the catalysts behind those moves and the corresponding price action for the upcoming session.
Gainers
TD Holdings, Inc. (NASDAQ: GLG) jumped 49% to $1.21 after the company entered a non-binding letter of intent to acquire Guangdong Jinbochuang Special Purpose Vehicle Co. and Hunan Jinmeike New Material Co.